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IndiGo reported weak Q2 FY25 results due to grounded aircraft and rising fuel costs, despite a robust demand environment. The international segment is recovering, and the introduction of business class could drive future growth. Valuations are reasonable, suggesting a potential accumulation of the stock.
ICICI Bank reported a 14.5% profit increase to ₹11,746 crore, while MacroTech nearly doubled its profit to ₹423 crore. In contrast, Coal India experienced a 22% drop in profit. Other companies highlighted include Bank of Baroda, Shriram Finance, Torrent Pharma, and IndiGo.
ICICI Bank, Waaree Energies, IndiGo, Inox Wind, DLF, Lodha, Bandhan Bank, Coal India, and ITD Cementation are set to be in focus on Monday. Additionally, Bharti Airtel, Sun Pharmaceutical, BHEL, Adani Power, Punjab National Bank, and several others will report their quarterly earnings on October 28.
IndiGo plans to reduce its grounded aircraft to the mid-forties by April 2025, down from 60 in September, as it addresses supply-chain challenges and engine defects. The airline expects to operate around 35 grounded planes after resolving issues with Pratt & Whitney engines. Additionally, IndiGo will return damp leased aircraft to lower rising rental costs.
IndiGo, India's largest airline, reported a surprising loss of 9.9 billion rupees ($118 million) for the quarter ending September 30, marking its first loss in two years. This downturn was attributed to increased fuel expenses and a significant rise in maintenance costs, contrary to analysts' expectations of a profit of 1.34 billion rupees.
InterGlobe Aviation, operator of IndiGo, reported a net loss of Rs 987 crore for Q2 FY25, a stark contrast to a profit of Rs 189 crore in the same quarter last year. Despite a 13.6% increase in revenues to Rs 16,969.6 crore, rising airport fees, maintenance costs, and fuel expenses significantly impacted profitability. Shares closed 3.2% lower at Rs 4,373.7.
The Indian equity market continues to struggle, with the Nifty index poised for its fourth consecutive week of losses, closing slightly below the 24,400 mark. Weak earnings reports and ongoing foreign institutional investor sell-offs have contributed to this downward trend. Key stocks to watch include ITC and IndusInd Bank following their Q2 earnings, along with Coal India, JSW Steel, Indigo, BPCL, BOB, HPCL, and Shriram Finance.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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